Paul Elio Responds To Critics, Ttac, 10-20-2014

[BilgeRat]

Tavarish's Jalopnik article basically refuted point by point.

http://www.thetruthaboutcars.com/2014/10/paul-elio-responds-skeptics/#more-932193

 

[goofyone]

Thanks, this was what we needed to see. A fairly written article featuring Paul Elio directly responding to the previous terrible Jalopnik article which was full of inaccuracies.

This bit of news particularly caught my attention:

According to Elio, he current status of the prototype engine is that it’s been assembled and spun without power to make sure there are no interferences. It was then torn down and it is currently being reassembled in a more laborious process that involves checking all tolerances, torques etc. The target date for dyno testing is November 15th. Elio told me that assuming they meet power and torque specs they will run the engine to failure. Following that, 25 validation examples of the engine will be built for pre-production pilot vehicles, some of which will be used for crash testing.

This information fits with what we had been hearing that the engine had already been assembled but we now know it was for a dry run. This timeline also fits some rumors we had been hearing that the completed engine may make an appearance at the SEMA show the first week of November and hopefully that will happen also.

 

[BilgeRat]

Me too. I thought the whole article was thoughtful and evenhanded, and it was important to get it up on here.

The breakdown on upcoming financing was something I've been waiting to hear from Paul, and I'm astonished at the amount they expect from the sale of the Shreveport plant's unneeded equipment.

 

[RMClubfitter]

Tavarish's Jalopnik article basically refuted point by point.

http://www.thetruthaboutcars.com/2014/10/paul-elio-responds-skeptics/#more-932193

Thanks for the article.

 

[eddie66]

Tavarish's Jalopnik article basically refuted point by point.

http://www.thetruthaboutcars.com/2014/10/paul-elio-responds-skeptics/#more-932193

Good info. Thanks for posting BilgeRat.

 

[AriLea]

Thanks, this was what we needed to see. A fairly written article featuring Paul Elio directly responding to the previous terrible Jalopnik article which was full of inaccuracies.

This bit of news particularly caught my attention:


This information fits with what we had been hearing that the engine had already been assembled but we now know it was for a dry run. This timeline also fits some rumors we had been hearing that the completed engine may make an appearance at the SEMA show the first week of November and hopefully that will happen also.

It's a little off from what I thought they should do, but I'm very happy with what they are doing.

 

[JEBar]

thanks for posting the link to the Elio response .... the comment,

"Elio isn’t certain that they’ll meet their financial objectives and lots of car company startups never got off the ground but he’s optimistic. “What we’re doing is hard, ” Elio told TTAC, “but it’s well thought out and we have the right people and suppliers”."

got my attention .... I sure hope his optimism is well placed

Jim

 

[goofyone]

The breakdown on upcoming financing was something I've been waiting to hear from Paul, and I'm astonished at the amount they expect from the sale of the Shreveport plant's unneeded equipment.

I think most people are surprised by how much that equipment is worth especially when you hear that these are net numbers after they pay off their loan and Comau gets paid for their part of the work. To me this equipment sale does two important things, the first is clearing the large debt burden they had been carrying from purchasing the equipment and the second is securing any additional needed funding which they may need to complete the engine and vehicle development process which EM needs to accomplish ahead of production.

 

[goofyone]

thanks for posting the link to the Elio response .... the comment,

"Elio isn’t certain that they’ll meet their financial objectives and lots of car company startups never got off the ground but he’s optimistic. “What we’re doing is hard, ” Elio told TTAC, “but it’s well thought out and we have the right people and suppliers”."

got my attention .... I sure hope his optimism is well placed

Jim

This is why, in my opinion, the best news is that with the equipment sale Elio Motors will clear their debt burden and generate extra cash they may need to complete the vehicle development program. A huge problem start-ups always face is funding the product development process to completion without going bust in the process and it would appear that Elio Motors should have the funds to do this. This news is not necessarily new but it is good to hear it come directly from Paul Elio.

This financial situation should also make finding funding for production easier as it is a much easier task for EM to show the government or investors that all they need is funding to get the plant up and running as the vehicle development process is already paid for and they are doing so without accumulating a mountain of debt in the process.

I will give Paul Elio a lot of credit for being honest as this is not the first time I have heard him admit this is not an easy thing to do. He has been very open about the fact that funding is the biggest hurdle a start up like this faces.

 

[Norahsbed]

Noticed Paul didn't mention government loan to move forward but he was in DC! Could this be a sign, of good things to come? I know, I know, speculating again! Great to see someone other than us Eiloites, wasn't happy with the article by the troll and posted the truth!